In the latest close session, Bit Digital, Inc. (BTBT) was down 1.68% at $1.76. The stock trailed the S&P 500, which registered a daily gain of 0.51%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 0.48%.
Shares of the company have appreciated by 12.58% over the course of the past month, outperforming the Business Services sector's loss of 6.07%, and the S&P 500's gain of 0.74%.
Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.05, indicating constancy compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $33.69 million, reflecting a 10.6% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.78 per share and a revenue of $146.66 million, indicating changes of -239.13% and +29.1%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Bit Digital, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 11.63% higher. Bit Digital, Inc. currently has a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Bit Digital, Inc. (BTBT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).